Shares of Altitude International Holdings (OTCMKTS:ALTD) ended lower on Monday after issuing key shareholders update.
Market Reaction
On Monday, ALTD stock ended lower by 12% to $0.0950 with more than 151K shares, compared to its average volume of 121k shares. The stock has moved within a range of $0.0820 – 0.1080 after opening trade at $0.1080.
CEO of Altitude International Holdings Releases Updates about Company
Greg Breunich. CEO of Altitude International Holdings (OTCMKTS:ALTD) has released major updates on November 29, 2021, regarding their financial statements and objectives in the upcoming months.
There was an excellent increase in revenue – 43.7% for the acquired BHI subsidiaries for the three months in 2021 compared to 3 months 2020 ($1,472,194 versus $828,107) and a 25.9% increase in these revenues for the 9 months 2021 versus 2020 ($5,522,499 versus $4,091,315). Loss for 9 months of $4,281,791 was due a one-time stock-based compensation of $3,063,185 in the company. Revenue related to sale of Altitude Chamber to the Orlando Magic, is yet to be recognized till installation begins in Q1 of 2022. Revenue from sale of Atmospheric Water Generators is to be recognized in Q4 of 2021.
Altitude Academies is all set on building its Sportsync recruiting relationship – full time enrollment for 2022-2023 school season and beyond, will set the ball rolling. Altitude Online Learning is soft launched with a couple of students attending from Spain. The setup of their first facility in Sugarland TX of Altitude Wellness is being supervised by Dr. Kenneth Lee and his management team. Altitude Water has entered the final phase of purchase negotiations with companies representing oil platform supply and housing ships that are interested to purchase Atmospheric Water Generators.
Traders Review
ALTD stock is trading below the 20-Day and 200-Day Moving averages of $0.1638 and $0.2087 respectively. Moreover, the stock is trading below the 50-Day moving average of $0.3236. The stock is down 76% over the past 3-month.
